Form 4684, Casualties and Thefts
Total Page：16
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Casualties and Thefts OMB No. 1545-0177 Form 4684 ▶ Go to www.irs.gov/Form4684 for instructions and the latest information. ▶ Attach to your tax return. 2020 Department of the Treasury Attachment Internal Revenue Service ▶ Use a separate Form 4684 for each casualty or theft. Sequence No. 26 Name(s) shown on tax return Identifying number SECTION A—Personal Use Property (Use this section to report casualties and thefts of property not used in a trade or business or for income-producing purposes. You must use a separate Form 4684 (through line 12) for each casualty or theft event involving personal use property. If reporting a qualified disaster loss, see the instructions for special rules that apply before completing this section.) If the casualty or theft loss is attributable to a federally declared disaster, check here and enter the DR- or EM- declaration number assigned by FEMA. (See instructions.) 1 Description of properties (show type, location (city, state, and ZIP code), and date acquired for each property). Use a separate line for each property lost or damaged from the same casualty or theft. If you checked the box and entered the FEMA disaster declaration number above, enter the ZIP code for the property most affected on the line for Property A. Type of Property City and State ZIP Code Date Acquired Property A Property B Property C Property D Properties A B C D 2 Cost or other basis of each property . 2 3 Insurance or other reimbursement (whether or not you filed a claim) (see instructions) . 3 Note: If line 2 is more than line 3, skip line 4. 4 Gain from casualty or theft. If line 3 is more than line 2, enter the difference here and skip lines 5 through 9 for that column. See instructions if line 3 includes insurance or other reimbursement you did not claim, or you received payment for your loss in a later tax year . 4 5 Fair market value before casualty or theft . 5 6 Fair market value after casualty or theft . 6 7 Subtract line 6 from line 5 . 7 8 Enter the smaller of line 2 or line 7 . 8 9 Subtract line 3 from line 8. If zero or less, enter -0- . 9 10 Casualty or theft loss. Add the amounts on line 9 in columns A through D . 10 11 Enter $100 ($500 if qualified disaster loss rules apply; see instructions) . 11 12 Subtract line 11 from line 10. If zero or less, enter -0- . 12 Caution: Use only one Form 4684 for lines 13 through 18. 13 Add the amounts on line 4 of all Forms 4684 . 13 14 Add the amounts on line 12 of all Forms 4684. If you have losses not attributable to a federally declared disaster, see the instructions . 14 Caution: See instructions before completing line 15. 15 • If line 13 is more than line 14, enter the difference here and on Schedule D. Do not complete the rest of this section. • If line 13 is equal to line 14, enter -0- here. Do not complete the rest of this section. • If line 13 is less than line 14, and you have no qualified disaster losses subject to the $500 reduction on line 11 on any Form(s) 4684, enter -0- here and go to line 16. If you have qualified disaster losses subject to the $500 reduction, subtract line 13 from line 14 . 15 and enter the smaller of this difference or the amount on line 12 of the Form(s) 4684 reporting those losses. Enter that result here and on Schedule A (Form 1040), line 16, or Form 1040-NR, Schedule A, line 7. If you claim the standard deduction, also include on Schedule A (Form 1040), line 16, the amount of your standard deduction (see the Instructions for Forms 1040 and 1040-SR). Do not complete the rest of this section if all of your casualty or theft losses are subject to the $500 reduction. } 16 Add lines 13 and 15. Subtract the result from line 14 . 16 17 Enter 10% of your adjusted gross income from Form 1040, 1040-SR, or 1040-NR, line 11. Estates and trusts, see instructions . 17 18 Subtract line 17 from line 16. If zero or less, enter -0-. Also, enter the result on Schedule A (Form 1040), line 15, or Form 1040-NR, Schedule A, line 6. Estates and trusts, enter the result on the “Other deductions” line of your tax return . 18 For Paperwork Reduction Act Notice, see instructions. Cat. No. 12997O Form 4684 (2020) Form 4684 (2020) Attachment Sequence No. 26 Page 2 Name(s) shown on tax return. Do not enter name and identifying number if shown on other side. Identifying number SECTION B—Business and Income-Producing Property Part I Casualty or Theft Gain or Loss (Use a separate Part l for each casualty or theft.) 19 Description of properties (show type, location, and date acquired for each property). Use a separate line for each property lost or damaged from the same casualty or theft. See instructions if claiming a loss due to a Ponzi-type investment scheme and Section C is not completed. Property A Property B Property C Property D Properties A B C D 20 Cost or adjusted basis of each property . 20 21 Insurance or other reimbursement (whether or not you filed a claim). See the instructions for line 3 . 21 Note: If line 20 is more than line 21, skip line 22. 22 Gain from casualty or theft. If line 21 is more than line 20, enter the difference here and on line 29 or line 34, column (c), except as provided in the instructions for line 33. Also, skip lines 23 through 27 for that column. See the instructions for line 4 if line 21 includes insurance or other reimbursement you did not claim, or you received payment for your loss in a later tax year 22 23 Fair market value before casualty or theft . 23 24 Fair market value after casualty or theft . 24 25 Subtract line 24 from line 23 . 25 26 Enter the smaller of line 20 or line 25 . 26 Note: If the property was totally destroyed by casualty or lost from theft, enter on line 26 the amount from line 20. 27 Subtract line 21 from line 26. If zero or less, enter -0- . 27 28 Casualty or theft loss. Add the amounts on line 27. Enter the total here and on line 29 or line 34 (see instructions) . 28 (b) Losses from casualties or thefts Part II Summary of Gains and Losses (from separate Parts l) (c) Gains from (i) Trade, business, (ii) Income- casualties or thefts (a) Identify casualty or theft rental, or royalty producing property includible in income property Casualty or Theft of Property Held One Year or Less 29 ( ) ( ) ( ) ( ) 30 Totals. Add the amounts on line 29 . 30 ( ) ( ) 31 Combine line 30, columns (b)(i) and (c). Enter the net gain or (loss) here and on Form 4797, line 14. If Form 4797 is not otherwise required, see instructions . 31 32 Enter the amount from line 30, column (b)(ii) here. Individuals, enter the amount from income-producing property on Schedule A (Form 1040), line 16, or Form 1040-NR, Schedule A, line 7. (Do not include any loss on property used as an employee.) Estates and trusts, partnerships, and S corporations, see instructions . 32 Casualty or Theft of Property Held More Than One Year 33 Casualty or theft gains from Form 4797, line 32 . 33 34 ( ) ( ) ( ) ( ) 35 Total losses. Add amounts on line 34, columns (b)(i) and (b)(ii) . 35 ( ) ( ) 36 Total gains. Add lines 33 and 34, column (c) . 36 37 Add amounts on line 35, columns (b)(i) and (b)(ii) . 37 38 If the loss on line 37 is more than the gain on line 36: a Combine line 35, column (b)(i) and line 36, and enter the net gain or (loss) here. Partnerships and S corporations, see the Note below. All others, enter this amount on Form 4797, line 14. If Form 4797 is not otherwise required, see instructions . 38a b Enter the amount from line 35, column (b)(ii) here. Individuals, enter the amount from income-producing property on Schedule A (Form 1040), line 16, or Form 1040-NR, Schedule A, line 7. (Do not include any loss on property used as an employee.) Estates and trusts, enter on the “Other deductions” line of your tax return. Partnerships and S corporations, see the Note below . 38b 39 If the loss on line 37 is less than or equal to the gain on line 36, combine lines 36 and 37 and enter here. Partnerships, see the Note below. All others, enter this amount on Form 4797, line 3 . 39 Note: Partnerships, enter the amount from line 38a, 38b, or 39 on Form 1065, Schedule K, line 11. S corporations, enter the amount from line 38a or 38b on Form 1120-S, Schedule K, line 10. Form 4684 (2020) Form 4684 (2020) Attachment Sequence No. 26 Page 3 Name(s) shown on tax return Identifying number SECTION C—Theft Loss Deduction for Ponzi-Type Investment Scheme Using the Procedures in Revenue Procedure 2009-20 (Complete this section in lieu of Appendix A in Revenue Procedure 2009-20. See instructions.) Part I Computation of Deduction 40 Initial investment . 40 41 Subsequent investments (see instructions) . 41 42 Income reported on your tax returns for tax years prior to the discovery year (see instructions) . 42 43 Add lines 40, 41, and 42 .